Ok, I’ve been reading all these comments long enough to know there are some shenanigans going on here. I know the canister this cake mix (technicality) came out of and I will tell you this, (1) If you have your mortgage with a big bank and are paying your payment to that bank, thank your Creator and do everything humanly possible to keep your standing Grade A. (2) You can be sure the system knows every bean it should get and where that bean is. (3) If any of you think for one second of committing fraud with these bean counters you are too simple or too immature to have a mortgage in the first place and you and your property will soon part ways.
It may not seem like it right now but Grade A’s and that includes those who communicate with their lender and make arrangements when times are tougher will have value like fine gold, doing the right thing, upholding your end of the agreement.
The point here is that there are class action law suits popping up everywhere. A few weeks ago a class action in Kentucky was filed on behalf of 100,000 foreclosed on pruperty owners.
This lawsuit is pursuing RICO law which us used against organized crime looking for a pattern of fraudulent activity. The bank in this suit has committed fraud most likely with all 100,000 home owners by intentionally filing false documents to be able to froeclose.
There are some 20,000,000 foreclosed property and the odds are all will go into class actions.
The losses are in the trillions and the damages are in the trillions. As this goes forward many banks will be crushed with these lawsuits, but more importantly so will the home owners in good standing.
How? Property values will keep going down as it is revealed in court that the values of these homes are half of what the banks stated. Goreclosed properties are seeing their oners stay in there for years because the banks son’t have time to deal with them. How is that for property values. You make tens of thousands of dollars in mortgage payments every year while the guy next door pays nothing for years until the class action is settled.
It does not take a genius to understand that the overall real esate market will collapse until this is all worked out somehow. I’m guessing it will take another 7 years.
And once again, home owners in good standing have to wonder if the bank they are making payments to can prove ownerdhip of their mortgages. This is a very, very serious question. If the bank cannot prove ownership, then home owners are sending payments to a bank that does not own their mortgages. This is fact that this situation now exists.